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FOX News
Jan 30, 2013 3:00pm PST
the wrong way. the economy slinks bringing on fears of a new recession. this is "special report." ♪ ♪ >> bret: good evening. i'm bret baier. hard slap in the face tonight from reality. economy thought to be improving shocked experts and shrank in the final months of last year. huge falloff from gain last summer. white house correspondent wendell goler with an explanation and reaction. >> less than two weeks after the president said in the second inaugural address that an economic recovery had begun, the commerce department said not so fast. the biggest drop in defense spending in 40 years combined with a decline in exports and slow growth in company stock piles slashed economic growth from 3.1% in the third quarter to minus 1/10th in the fourth. first negative quarter since 2009. white house downplayed the report and gave the republicans part of the blame. >> home prices are starting to climb back. consumer confidence overall has been rising and consumer spending is rising. but there is more work to do. our economy is facing a major head wind that goes to your point. republi
CBS
Jan 30, 2013 6:30pm EST
. the economy suddenly stops growing. anthony mason looks at the surprising new numbers and with the super bowl coming this weekend, jim axelrod in new orleans, where the city's chefs have served up an economic recovery. >> reporter: the population shrunk, and yet the number of the restaurants went up? >> yeah, it's a miracle, isn't it? captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. the senate judiciary committee had assembled for the first congressional gun control hearing since the sandy hook tragedy when the surprise witness appeared. former congresswoman gabrielle giffords of arizona was led by the hand by her husband, mark kelly. it was two years ago this month that giffords was shot through the head during a meeting in tucson. 18 others were shot and six died. a day of testimony began with this: >> speaking is difficult, but i need to say something important. violence is a big problem. too many children are dying. too many children. we must do something. it will be hard, but the time is now. you must act. be bold. be courageous. amer
CNN
Feb 2, 2013 10:00am PST
'm christine romans and this is "your money." ali velshi is off this week. the economy looks like it's ready to take off, 157,000 new jobs added in january. the unemployment rate rising slightly to 7.9% from 7.8%. there's room for improvement. but it continues a trend. now 28 months strong. a trend of more jobs added every month. stocks are soaring with the s&p 500 a good example of what americans are holding in their 401st and i.r.a.s crossing the 1,500 threshold since 2008. and housing that helped fuel that recession, it looks like it's making a comeback. 2012 was the best year in real estate for five years. home prices jumped 5.5% year over year in november. that's the biggest in six years. with interest rates on six-year lows, you can get 3.5% on a 30-year fixed mortgage. home price should continue to go up. it's not all positive. gross domestic product shrank for the first time in three years coming down ever so slightly by 0.1% in the fourth quarter of 2012. with stocks and housing looking up, why should gdp come down? blame it on washington. showdowns on capitol hill over fiscal cliff
CNN
Feb 3, 2013 12:00pm PST
the economy as it did claiming it was fixed and then finding excuses and scapegoats when its premature announcements turn out to be false, i would suspect the economy is doing better than it is today. >> austin is a key member and today a professor of economics at the university of chicago booth coolal school of business. in fairness, this white house spends a lot of time blaming republicans for economic problems. has it gone overboard? perhaps too much politics and not enough policy because we did have an election. >> you know, i thought that was kind of a weird, cheap shot to come from the minority leader. i think the difference between being recovered and being in recovery is pretty different. and that is we're growing at a modest pace. we should be growing faster, but we're about the fastest growth of the advance world. but we still have a long way to go before we're back to where we were prebubble days and prerecession. i think the job's numbers, they were okay. you know, they were about what was expected. we saw over the last year, we've added a little more than 2 million jobs. t
PBS
Jan 30, 2013 5:30pm PST
and cuts in defense spending. did not announce any new action to stimulate the economy. wall street reacted by giving up some of its recent gains. the dow jones industrial average lost 44 points to close at 13,910. the nasdaq fell 11 points to close at 3,142. those are some of the day's major stories. now, back to jeff. >> brown: whither the economy? that's been the question for quite a while now. today, there was a surprising and perhaps confusing new twist. the commerce department reported that gross domestic product actually shrank in the last quarter of 2012. thdrop was small, one tenth of a percent. but it was still the first time economic output had fallen in three and a half years. government spending dropped, most dramatically in the defense sector. the report, though, also contained some positive developments: consumer spending and business investment were both up. and yesterday, the so-called case-shiller index found that housing prices grew in 20 major cities by an average of 5.5% over the previous year. it was the biggest gain in six years. we talk it through, with joel naroff,
CBS
Jan 30, 2013 6:00pm EST
the economy. wall street reacted by giving up some of its recent gains. the dow jones industrial average lost 44 points to close at 13910. the nasdaq fell 11 points to close at 3,142. those are some of the day's major stories. now, back to jeff. >> brown: whither the economy? that's been the question for quite a while now. today, there was a surprising and perhaps confusing new twist. the commerce department reported that gross domestic product actually shrank in the last quarter of 2012. the drop was small, one tenth of a percent. but it was still the first time economic output had fallen in three and a half years. government spending dropped, most dramatically in the defense sector. the report, though, also contained some positive developments: consumer spending and business investment were both up. and yesterday, the so-called case-shiller index found that housing prices grew in 20 major cities by an average of 5.5% over the previous year. it was the biggest gain in six years. we talk it through, with joel naroff, an economist, who heads his own consulting firm in pennsylvania. and roben f
CSPAN
Jan 29, 2013 9:00am EST
the debt we can eliminate an additional drag on our economy. so this isn't a conversation about austerity. it is a conversation about growth and opportunity. that doesn't mean we're all going to agree on the path forward. americans certainly expect a serious policy debate. they expect both parties to offer competing plans to preserve and protect long-term entitlement programs and they expect both sides to propose different plans to get our fiscal house in order and our country back to economic health. now, republicans have done their part. the budget is passed by house republicans over the past couple of years contained fresh ideas that would help solve our fiscal crisis an. but from the democrats, so far not much. four years on, president obama and congressional democrats still have yet to offer a serious plan to address the economic challenges we face. they have been content to wage political war instead. it is my hope that the debate over the debt ceiling will finally move our friends on the other side beyond their preoccupation with the horse race. already, senate democrats have commi
CNN
Jan 30, 2013 4:00pm PST
of the blackberry ten later in the show. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. or that printing in color had to cost a fortune. nobody said an all-in-one had to be bulky. or that you had to print from your desk. at least, nobody said it to us. introducing the business smart inkjet all-in-one series from brother. easy to use. it's the ultimate combination of speed, small size, and low-cost printing. ...so as you can see, geico's customer satisfaction is at 97%. mmmm tasty. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the scenes. this coffee cup, for example, is computer animated. it's not real. geico's customer satisfaction is quite real though. this computer-animated coffee tastes dreadful. geico. 15 minutes could save you 15 % or more on car insurance. someone get me a latte will ya, please? constipated? yeah. mm. some laxatives like dulcolax can cause cramps. but phillips' caplets don't. they have magnesium. for effective relief of occasional con
MSNBC
Feb 4, 2013 3:00pm PST
economy. ordinary folks, they do their jobs. the notion that our elected leadership can't do the same thing is mind boggling to him. it needs to stop. >> this is not a complicated concept. >> he's standing strong. and that's making it even harder for an already divided gop to regroup. take exhibit a. earlier today, tagg romney's name was floated as a possible gop senate candidate in massachusetts. he's since bowed out. guess he saw what happened to the last romney. . >>> and then there's this. gop donors are turning to karl rove to help weed out far right candidates in upcoming races. really? isn't he the guy who blew $300 million in the last election? whose super pac had a 1% success rate? yeah, that guy. and, boy is the tea party upset. freedom works slammed rove's group saying the empire is striking back. calling him orwellian. it's full-on gop warfare. it's gop civil war. joining me now is michael steele and dana millbank. thank you both for coming on the show tonight. >> good to see you, rev. >> michael, karl rove to save the party from the tea party, do you buy it? >> no, i don'
CSPAN
Jan 30, 2013 1:00am EST
, so we can strengthen our economy, and strengthen our country's future. think about it. we define ourselves as a nation of immigrants. that is who we are, in our bones. the promise we see in those that come here from every corner of the globe, that has always been one of our greatest strengths. it keeps our recourse young, a key to our country on the cutting edge, and helped to build the greatest economic engine the world has ever known. after all, immigrants help to start businesses like google, and yahoo!, they created entire new industries that in turn created new jobs and new prosperity. in recent years, one in four high-tech start-ups in america were founded by immigrants. one in four new small business owners were immigrants, including right here in nevada. folks who came here seeking opportunity and now want to share that opportunity with other americans. but we all know that today we have an immigration system that is out of date and badly broken. a system that is holding us back, instead of helping us to grow our economy and strengthen our middle-class. right now, we have
CSPAN
Jan 31, 2013 7:00am EST
enforcement in the 1970's, the men and women in the academy and then when they are out of the economy, the men and women are retrained on a monthly basis. they go to training. they go to the gun range. they are marksman. we have men and women that never pulled a service revolver. there has to be -- we do have gun-control in california. i do believe it does help, it really does help. i commend our senators and our president. newtown is a tragedy, a travesty. i have a granddaughter and there are young children who are our relatives. it does not make a difference. it could be young or old. we had a gentleman -- or rather a murderer from orange county, riverside county rather, the law enforcement gathered together. they were very emboldened and the economy in san diego. it tooks swap teams probably seven hours to get this man out. he had broken into a house and stole 30 guns, besides being a wanted murder. they did get him. i am proud of our men and women here in california. host: one more question. if the congress could do one thing, what would you like to see them do? caller: i would like to see
FOX News
Jan 30, 2013 1:00pm EST
and we need a successful resolution to the information. >> breaking news on the economy sparking a new debate over the president's priorities for his second term as washington talks of gun violence and immigration reform the commerce department announces the economy shank in the last quarter of 2012. this is not only the single decline of 2012 we did not shrink in any more quarter. it is the first drop we have seen in 3 and a half years. why thare they talking firearms and immigration reform instead of ways to put people back to work. daily beast columnist kirsten powers. we sat out there when he made his inaugural address some of the panel skrcontract sized president obama for talking about things like immigration reform and gun control and his push on green energy. where was the talk about jobs and the economy and now we see this economic news about how we slunk in the fourth quarter. >> the president has to be concerned about the economy. you can't be president and ignore what's going on economically. the problem is what direction he is going to go. he wants to focus on deficit redu
ABC
Feb 3, 2013 8:00am PST
's not as if latinos say immigration is my top issue, the economy is their top issue. if they don't do this, republicans could make themselves the minority party for the next generation. >> two things, one is this is not -- we're not going to deport the people who are already here. we're not actually going to reverse this. the fact of immigration is going to happen, the question about what we'll do about border control, some of that in these proposals but in any case that's almost a separate issue. one is regularizing the status of people here, basically making them legal, bringing them under labor law, all of that, how could you really be against that? it's, you know, got to be good for everybody to do that. the republican party has a problem. the leadership understands that they cannot -- they're doomed if they are only the party of old white people, to put it bluntly. the problem is their base is old white people, and so the rank and file, which answers to base, which doesn't fear democrats but does fear tea party challengers may not go along, but this is clearly -- there's no possible -
CSPAN
Feb 4, 2013 8:00pm EST
economy, this congress said no, our motto would be in god we trust. and when i was a young boy, john kennedy facing the cuban missile crisis said this, the guiding principle of this country has always been, is today and will forever be in god we trust. mr. speaker, with that great history of faith, why is it that faith is under attack so much across this nation? well, mr. speaker, tune in, because in a few weeks, we will be back on this floor and we'll tell you who's doing it and why they are doing it and what we need to do to stop it. i thank you and i yield back my time. the speaker pro tempore: the gentleman yields back the balance of his time. under the speaker's announced policy of january 3, 2013, the gentleman from new york, mr. jeverries is recognized for 60 -- mr. jeffries is recognized for 60 minutes as the designee of the minority leader. mr. jeffries: i ask for unanimous consent that the -- be entered into the record a letter from the distinguished gentlelady from texas, mrs. johnson. the speaker pro tempore: without objection. mr. jeffries: today we are here as members o
FOX News
Feb 2, 2013 11:30am PST
an agenda, but skipping the facts and figures? >> our economy is facing a major hit and that is republicans in congress. >> white house and democrats play the blame game following bad news. did the media see the spin or did they get spun? >> how am i doing? >> ed koch passes leaving a legacy of straight talk. how does the media remember him? and the media circus hits the big easy. >> on the panel this week, judy miller, richard grenell, jim pinkerton and fox news political analyst juan williams. i'm jon scott. fox news watch is on right now. >>> main thing i want to have a chance to publicly say thank you. i think hillary will go down one of finest secretary of states we've had. it's been a great collaboration over the last four years. i'm going miss her. >> jon: president obama and hillary clinton sharing a wonderful moment in prime time. 60 minutes interview getting raves and also criticism what could be a squandered opportunity to ask hard questions. cbs correspondent steve kroft reacted to the critics. >> i've been doing had these interviews with him since a few weeks before he declared
MSNBC
Jan 30, 2013 8:00am PST
on that hostage situation. we switch gears to talk about the u.s. economy and it shrank a tenth of a percent, the first time in three and a half years. >>> thousands of residents are in the dark of severe storms and help is on the way for millions impacted by hurricane sandy. president obama signing a $55 billion aid package in emergency relief. in syria, an unprecedented mass murder much civilians, the bodies of 65 people found near a river, some with their hands tied behind their backs. >>> toyota is recalling 1 million of its kroel las and lexus sedans manufactured between 2001 and 2004 because the air bags can improperly inflate. in japan, a major airliner is reporting it replaced batteries of dreamliner jet liner ten times before they were gounded earlier this month. >>> another black eye for baseball. new york yankees star alex rodriguez is among seven major leaguers who bought performance enhancing drugs as recently as last year. >>> we want to take you back to the big story we've been following this morning. the committee hearing taking place on what to do about gun violence in ameri
CSPAN
Jan 30, 2013 5:00pm EST
a living. often they do that in the shadow economy, a place where employers may offer them less than the minimum wage or make them work overtime without extra pay. when that happens, it's not as bad for them, it's bad for the entire economy, because all the businesses that are trying to do the right thing that are hiring people legally, paying a decent wage, following the rules, they are the ones to suffer. they have got to compete against companies that are breaking the rules. the wages and working conditions of american workers are threatened as well. if we are truly committed to strengthening our middle-class and providing more ladders of opportunity to those who are willing to work hard to make it into the middle class, we've got to fix the system. we have to make sure that every business and every worker in america is pulling by the same set of rules. we have to bring in the shadow economy into the light so that everybody is held accountable. the businesses and the immigrants getting on the right side of the law. common sense. that's why we need comprehensive immigration reform.
FOX News
Jan 30, 2013 6:00am PST
out the bubbly just yet. we got word the economy shrunk for the first time in 3 1/2 years. stuart varney will make sense of all this. he is anchor of "varney & company" on the fox business network. stuart, what do you make of that. >> it is not always true that economic performance is directly mirrored on the stock market. in fact you have a classic example today. let me start with the very dismal news on the economy. in the last three months of last year, our economy shrunk, contracted at annualized rate of .1%. back then we were staring tax increases in the face. there was the fiscal cliff coming right at us. consumer sentiment was in a tailspin. and weak holiday sales. add it all up, and you have got a contraction of the economy at the end of last year. okay? you've got a contraction. right now, just a few short weeks later, what you've got is a near-record high for the stock market. the dow is closing in on an all-time high. that is because the housing market is recovering. that is still true, despite the slippage in the economy. housing is recovering. most important, ben bern
CSPAN
Feb 5, 2013 1:00am EST
joining the work force has not diminished men. it expands our economy and opportunity for all. the education of poor people in the inner-city does not take away from others, it expands our economy and makes us all do better. this is the ideal of our country. as the rabbi would tell me, the jewish saying, that jews together are strong, but jews with other people are invincible. he african saying that spiderwebs united can tie up a line. the very principle of this country, one of my advisers told me one of the fundamental principles of islam. the oneness of the community. we recognize dependency and see strength. that became the problem solving idea that i took on. i began looking at what other cities around america were doing. i came over to mayor bloomberg, who i called the obi-wan kenobi of mayors. all of us young padawans come to see what is going on over here. i could not wait to talk about climate change. the time is now. we just focus on cities where the carbon output is significant. if we do pragmatic things, we are going to make change. he started showing me programs he
FOX News
Jan 30, 2013 11:00am EST
street comes amid disappointing economic news. the u.s. economy slowing signs of slowing down. the government says the economy sharply contracted in the fourth quarter of 2012 growing at only one tent of tenth. they say it is heading to greece on steroids. what is about this last quarter, steve, what caused the shrinkage. >> wall street is doing great, main street isn't doing so well. this new report suggests that this economy still has not really fully recovered from the financial crisis four years ago, in fact the thing that is really disturbing here, jon is the economy has been slowing down over the last six months or so. it's not gaining momentum as you would expect. and so the numbers are just very troubling. the biggest decline, by the way, was in defense spending. the private sector gdp was up a bit, not much about 1.5%. jon: a lot of people who constantly look to cut the defense budget, cut defense spending, chop out this program or that program, this is a cautionary tale. >> look i actually think cutting government spending is good for the economy because it frees up
CSPAN
Jan 29, 2013 12:00pm EST
to be an economy of force response. but, you know, first of all, you know, that has always been our -- other than actual the physical defense of the continental united states or the legal united states, you know, that's been our principal security interest ever since before we were a nation. it's clearly a moment in time where the -- and, of course, through history the patterns have gone back and forth between more autocratic and more liberal governments and regimes in that area. and we have a lot of partners with whom we could be working. we have had a, i mean, our model partnership with colombia which, you know, has been a pretty low-level thing, one which the house of representatives has traditionally kept very close tabs on is a model, counterinsurgency partnership. if we had aped that model in some of our middle east engagements, we would have been much better off also today. but it suggests that, um, again -- and it's possible to work with the brazilians, for example. the brazilians were the leading force in the u.n. mission in haiti. so it, some good things have been happening even while t
CSPAN
Feb 3, 2013 1:05pm EST
wars, an economy in freefall, traditional alliances fraying, our diplomatic standing damaged and around the world people questioning america's commitment to core values and our ability to maintain our global leadership. that was my in box on day one as your secretary of state. today, the world remains a dangerous and complicated place and of course we still face many difficult challenges but a lot has changed in the last four years. under president obama's leadership, we've ended the war in iraq, begun a transition in afghanistan and brought osama bin laden to justice. we've also revitalized american diplomacy and strengthened our alliances and while our economic recovery is not yet complete, we are heading in the right direction. in short, america today is stronger at home and more respected in the world. and our global leadership is on firmer footing than many predicted. to understand what we have been trying to do the last four years, it's helpful to start with some history. last year, i was honored to deliver the lecture at the forrestal naval acadamy named for our first secretary o
MSNBC
Jan 29, 2013 7:00pm PST
in the rewrite. what we need are people prepared for the careers of our new economy. by 2025 we could have 20 million jobs without enough college graduates to fill them. that's why at devry university, we're teaming up with companies like cisco to help make sure everyone is ready with the know-how we need for a new tomorrow. [ male announcer ] make sure america's ready. make sure you're ready. at devry.edu/knowhow. ♪ executor of efficiency. you can spot an amateur from a mile away... while going shoeless and metal-free in seconds. and you...rent from national. because only national lets you choose any car in the aisle...and go. you can even take a full-size or above, and still pay the mid-size price. now this...will work. [ male announcer ] just like you, business pro. just like you. go national. go like a pro. >>> and so on this the 46th day since the massacre of 20 first graders and six educators in newtown, connecticut, it has come to this. father of newtown victim heckled at hearing. neil hesslin, whose six-year-old son, jesse, was shot to death at sandy hook elementary school, testifie
CNN
Jan 29, 2013 11:00am PST
. now is the time to do this so we can strengthen our economy and strengthen our country's future. think about it. we define ourselves as a nation of immigrants. that's who we are, in our bones. the promise we see in those who come here from every corner of the globe, that's always been one of our greatest strengths. it keeps our workforce young. it keeps our country on the cutting edge. and it helped build the greatest economic engine the world has ever known. after all, immigrants helped start businesses like google and yahoo. they created entire new industries that created new jobs and new prosperity for our citizens. in recent years, one in four high tech startups in america were founded by immigrants. one in four new small business owners were immigrants including right here in nevada. folks who came here seeking opportunity and now want to share that opportunity with other americans. but we all know that today we have an immigration system that is out of date, and badly broken. a system that is holding us back instead of helping us grow our economy and strengthen our middle class.
CNN
Feb 3, 2013 11:00am PST
. they spent something like 25% to a third of their gdp on their military. a percentage of their economy. some had speculated that one of the reasons they're pursuing a nuclear weapons program, if we have nuclear weapons, we need fewer troops, fewer conventional weapons which are soaking up all this money in their economy. but, you know, in the long run, we don't know -- north cresaw the most closed country in the world. we all have guesses and we've all been wrong in the past but i think one thing that comes from this what we're doing right now isn't working. the sanctions aren't working and we'll have to start talking to them or doing something else to put this on a different path. >> dr. jim walsh, thank you very much for joining us. >> thank you. >>> one of the most infamous monarchs in british history may have been found buried beneath a parking lot in england. we're about to find out if it's the real final resting place of richard iii. >>> plus, there's a new place for you to get parenting news. i'm talking to host kyra phillips about her brand-new show. so if ydead battery,t tire, need
CBS
Jan 31, 2013 4:00am PST
.s. economy shrank unexpectedly during the fourth quarter of last year. it contracted by a 0.1% partly because of big cuts in defense spending and the impact of superstorm sandy. it's a decline since the recession started but economists see this as a one-time dip. for all of 2012 the economy expanded at more than 2%. >>> asian markets were mostly lower following some disappointing earnings. hong kong's hang seng lost half a percent while tokyo's nikkei bucked the trend adding a quarter percent to add to a 33-month high. worries about a slowdown with wall street after a month of gains. the dow fell 44 points to close at 13,910. the nasdaq also fell 11 points. >>> boeing posted fourth quarter profits yesterday that beat wall street's estimates. the company says it's standing by the batteries it uses for its grounded fleet of dreamliners and has reportedly already replaced more than 100 batteries. boeing also said it will speed up the production of the 787. >>> and good news for twinkie lovers. the golden sponge cake is about to make a comeback. hostess has reportedl
MSNBC
Jan 31, 2013 7:00pm PST
, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. or that printing in color had to cost a fortune. nobody said an all-in-one had to be bulky. or that you had to print from your desk. at least, nobody said it to us. introducing the business smart inkjet all-in-one series from brother. easy to use. it's the ultimate combination of speed, small size, and low-cost printing. >>> six bullets in the hands of a woman trying to defend her children may not be enough. >> and the peace of mind that a woman has as she is facing three, four, five violent attackers or intruders in her home screaming in the background the peace of mind knowing that she has a scary looking gun gives her more courage when she is fighting hardened violent crimin criminals. >> and there in lies the problem with having to defend assault weapons. if you go out and try to defend assault weapon
MSNBC
Jan 31, 2013 10:00pm PST
to compete on the global stage. what we need are people prepared for the careers of our new economy. by 2025 we could have 20 million jobs without enough college graduates to fill them. that's why at devry university, we're teaming up with companies like cisco to help make sure everyone is ready with the know-how we need for a new tomorrow. [ male announcer ] make sure america's ready. make sure you're ready. at devry.edu/knowhow. ♪ >>> i've never seen a doctor cry. you are about to see a doctor who did 20 years in the er as he put it never broke a tear until december 14th when he was in charge of the er that was suddenly overwhelmed by the massacre in sandy hook. last night the connecticut's legislature bipartisan task force held it's final hearing at newtown high school. dr. william begg made this plea. >> thank you. what is my inspiration for coming tonight. i'm a parent of three newtown students and the parent of the medical staff here at the high school. i'm part of the group that formed the response to the shootings and i'm an er doctor that was on shift on december 14th. what is my
CBS
Jan 31, 2013 4:00am EST
morning to you, anne-marie. the u.s. economy shrank unexpectedly during the fourth quarter of last year. it contracted 1% partly because of big cuts in defense spending and the impact of superstorm sandy. economists see this as a one-time dip for all of 2012 the economy expanded at more than 2%. >>> asian markets were mostly lower following some disappointing earnings. hong kong's hang seng lost half a percent while tokyo's nikkei bucked the trend adding a quarter percent. worries about a slowdown. wall street after a month of gaines, the dow fell 44 points to close at 13, 910. the nasdaq also fell 11 points. >>> boeing posted fourth quarter profits that beat wall street's estimates. the company says it's standing by the batteries it uses for its grounded fleet of dreamliners and has reportedly already replaced more than 100 batteries. boeing says it will speed up the production of the 787. >>> and good news for twink key lovers. the golden sponge cake is about to make a comeback. hostess has reportedly picked two investment firms to buy its twinkies and other snack cakes. the deal is w
CNN
Jan 31, 2013 2:00am PST
the economy shrank at the end of last year. also the fed said that economic growth has stalled. but stocks largely shrugged off that news closing down -- you back with us here? i'll keep going. the dow and s&p 500 are nearing all-time highs. so, the question, christine romans, is why? why are we at near all-time highs? >> almost the better answer is why not. europe has not fallen apart. the fed is still pumping this money into the system. jobs are slowly growing in the country. so you have stocks here at these near record highs, not there yet, but near record highs. everyone is saying why are they doing so well? the biggest single reason is the fed. yesterday the federal reserve chief said they would continue to do that. basically for the foreseeable future. that's why the markets have been doing well. plus people are coming into the market now. it's a 5-year-old bull market, so it's a bull long in the tooth, but bull markets can still run. people are coming in, that new money is moving things higher. one thing that didn't go higher is the new company called blackberry. used to be called r
CSPAN
Jan 31, 2013 1:00am EST
it in our economy. this is a first and foremost an economic imperative. many republicans know and see that. we would provide the marketplace with education materials so that people understand this is the right thing to do. we have agreed we're not going to put people on buses and 747's. we're also not going to say, this is a passport for everybody. we know the solution is in the middle. that is what we have to work on. rejecting a notion because of a lack of conviction for immigration is going to make matters worse. we have a disadvantage versus canada and australia. they have updated their system. hours dates back to the 1950's, 1960's, 1970's, and 1980's. host: to take a super pac aimed at electing republicans dedicated to reforming immigration. let's go to the phones. caller: good morning. i would like to set the record straight. there are not 11 million illegal aliens in this country. there were more like 26 million. obama wants to extend the invitation to come there to these people's families. we could end up with 35 million people. 70% of the people are from mexico and south america.
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